Celldex Therapeutics (NASDAQ:CLDX) Sets New 12-Month Low – Here’s Why

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $20.78 and last traded at $20.81, with a volume of 62922 shares trading hands. The stock had previously closed at $21.33.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CLDX. Cantor Fitzgerald reissued an “overweight” rating and set a $67.00 price target on shares of Celldex Therapeutics in a report on Wednesday, January 29th. HC Wainwright reissued a “buy” rating and set a $80.00 target price on shares of Celldex Therapeutics in a research note on Thursday, December 19th. Finally, UBS Group initiated coverage on shares of Celldex Therapeutics in a research note on Thursday, February 13th. They issued a “buy” rating and a $44.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Celldex Therapeutics has an average rating of “Moderate Buy” and an average price target of $60.22.

Celldex Therapeutics Trading Down 2.8 %

The stock has a market capitalization of $1.37 billion, a PE ratio of -8.10 and a beta of 1.60. The firm’s 50-day simple moving average is $24.24 and its two-hundred day simple moving average is $29.24.

Institutional Investors Weigh In On Celldex Therapeutics

A number of institutional investors have recently bought and sold shares of CLDX. Polar Asset Management Partners Inc. lifted its position in shares of Celldex Therapeutics by 1,318.0% in the fourth quarter. Polar Asset Management Partners Inc. now owns 137,550 shares of the biopharmaceutical company’s stock worth $3,476,000 after purchasing an additional 127,850 shares in the last quarter. TFG Asset Management GP Ltd acquired a new position in Celldex Therapeutics in the 4th quarter valued at approximately $4,852,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Celldex Therapeutics by 13.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,317 shares of the biopharmaceutical company’s stock worth $2,939,000 after buying an additional 13,722 shares in the last quarter. Vestal Point Capital LP purchased a new stake in Celldex Therapeutics in the 4th quarter worth approximately $7,707,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Celldex Therapeutics during the 4th quarter valued at $835,000.

About Celldex Therapeutics

Celldex Therapeutics, Inc, a biopharmaceutical company, engages in developing therapeutic monoclonal and bispecific antibodies for the treatment of various diseases. Its drug candidates include antibody-based therapeutics to treat patients with inflammatory, allergic, autoimmune, and other devastating diseases.